On Thursday Ilham Aliyev received Datuk Wan Zulkifli Wan Arrifi President of the Malaysian oil company «Petronas». Aliyev expressed satisfaction with the participation of "Petronas" in energy projects in Azerbaijan and cooperation with state company SOCAR. He also noted good potential and prospects for the deepening of cooperation at the moment. Negotiations on the definition of a new format of cooperation in this field are important and need to intensify these efforts, Aliyev said. In reply, Datuk Wan Zulkifli Wan Ariffi expressed satisfaction with the investment atmosphere in Azerbaijan and cooperation with state company SOCAR. He reiterated his company's intention to expand this cooperation and enhance participation in development of the field "Shah Deniz". -02D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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